What Happened When I Bought Snowflake on IPO Day
Few companies have gone from almost complete anonymity among retail investors to huge buzz like Snowflake (NYSE: SNOW) has over the past couple of months. With the incredible run cloud computing stocks have had this year, interest in Snowflake exploded as investors chased the newest, shiniest investment opportunity in the cloud.
As a result, Snowflake shares rocketed higher when trading commenced at 12:38 p.m. EDT on Sept. 16. Even after Snowflake raised its IPO price twice in the days leading up to going public, moving it up from $75 per share to a final price of $120, its stock still shot up to $245 per share upon hitting the market. That was more than double the per-share price Snowflake got from investors in the IPO.
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Source Fool.com
